Stock Analysis on Net

CVS Health Corp. (NYSE:CVS) 

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

CVS Health Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Products 61,911 59,674 56,212 53,724 65,154 61,298 60,539 58,147 59,657 57,643 56,794 52,522 53,973 51,853 50,525 47,387 49,592 47,738 46,355 47,003
Premiums 30,913 30,925 30,667 30,391 25,075 24,657 25,108 24,352 21,436 21,003 21,260 21,631 19,205 18,984 18,983 18,960 17,615 17,182 16,927 17,640
Services 4,131 4,279 3,961 3,868 3,316 3,532 3,000 2,445 2,430 2,312 2,436 2,505 3,059 2,711 2,819 2,453 2,099 1,932 1,875 1,950
Revenues from customers 96,955 94,878 90,840 87,983 93,545 89,487 88,647 84,944 83,523 80,958 80,490 76,658 76,237 73,548 72,327 68,800 69,306 66,852 65,157 66,593
Cost of products sold (55,268) (52,948) (49,998) (48,073) (57,419) (54,688) (53,536) (51,455) (51,728) (50,365) (49,290) (45,509) (46,378) (45,011) (43,520) (40,894) (42,452) (40,940) (40,242) (40,347)
Health care costs (29,543) (29,922) (27,853) (27,803) (22,518) (21,499) (21,782) (20,448) (18,305) (17,419) (17,606) (17,951) (16,574) (16,081) (15,901) (15,704) (15,145) (14,396) (11,751) (14,387)
Cost of revenues (84,811) (82,870) (77,851) (75,876) (79,937) (76,187) (75,318) (71,903) (70,033) (67,784) (66,896) (63,460) (62,952) (61,092) (59,421) (56,598) (57,597) (55,336) (51,993) (54,734)
Gross profit 12,144 12,008 12,989 12,107 13,608 13,300 13,329 13,041 13,490 13,174 13,594 13,198 13,285 12,456 12,906 12,202 11,709 11,516 13,164 11,859
Net investment income 755 550 394 454 268 277 274 334 323 201 146 168 367 246 289 297 248 204 184 162
Operating expenses (10,421) (10,557) (10,338) (10,290) (10,503) (9,876) (9,873) (9,580) (9,559) (9,606) (9,171) (9,876) (10,065) (9,210) (8,869) (8,922) (9,433) (8,471) (8,668) (8,563)
Restructuring charges (10) (1,169) (11) (496)
Opioid litigation charges (100) (583) (5,220)
Loss on assets held for sale (349) (53) (2,480)
Store impairments (1,358)
Goodwill impairment (431)
Operating income (loss) 2,368 832 3,045 2,271 3,373 3,690 3,234 3,446 3,618 (3,931) 4,569 3,490 2,229 3,061 4,326 3,577 2,524 3,249 4,680 3,458
Interest expense (758) (752) (732) (716) (690) (693) (686) (589) (552) (566) (583) (586) (608) (602) (636) (657) (678) (731) (765) (733)
Gain (loss) on early extinguishment of debt 491 (89) (363) (674) (766)
Other income 25 25 24 25 22 22 22 22 43 41 43 42 38 49 45 50 53 54 45 54
Income (loss) before income tax (provision) benefit 2,126 105 2,337 1,580 2,705 3,019 2,570 2,879 3,109 (4,456) 4,029 2,946 1,570 2,145 3,735 2,970 1,225 1,806 3,960 2,779
Income tax (provision) benefit (503) (34) (569) (456) (658) (754) (656) (737) (809) 1,047 (1,068) (633) (274) (558) (944) (746) (241) (587) (974) (767)
Income (loss) from continuing operations 1,623 71 1,768 1,124 2,047 2,265 1,914 2,142 2,300 (3,409) 2,961 2,313 1,296 1,587 2,791 2,224 984 1,219 2,986 2,012
Loss from discontinued operations, net of tax (9)
Net income (loss) 1,623 71 1,768 1,124 2,047 2,265 1,914 2,142 2,300 (3,409) 2,961 2,313 1,296 1,587 2,791 2,224 975 1,219 2,986 2,012
Net (income) loss attributable to noncontrolling interests 21 16 2 (11) (1) (4) (13) (6) 2 (7) (10) (1) 10 11 (8) (1) (2) 5 (11) (5)
Net income (loss) attributable to CVS Health 1,644 87 1,770 1,113 2,046 2,261 1,901 2,136 2,302 (3,416) 2,951 2,312 1,306 1,598 2,783 2,223 973 1,224 2,975 2,007

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Income statement item Description The company
Revenues from customers Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. CVS Health Corp. revenues from customers increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. CVS Health Corp. operating income (loss) decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 not reaching Q2 2024 level.
Income (loss) before income tax (provision) benefit Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. CVS Health Corp. income (loss) before income tax (provision) benefit decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 not reaching Q2 2024 level.
Net income (loss) attributable to CVS Health The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. CVS Health Corp. net income (loss) attributable to CVS Health decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 not reaching Q2 2024 level.